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Proskauer Rose LLP

THREE FIRST NATIONAL PLAZA, 70 WEST MADISON, SUITE 3800, CHICAGO IL 60602-4342, USA
Tel:
Work +1 312 962 3550
Fax:
Fax +1 312 962 3551
Email:
Web:
www.proskauer.com

Mark Thomas

Tel:
Work (312) 962-3560
Email:
Proskauer Rose LLP

Work Department

CORPORATE

Position

Mark Thomas, U.S. co-head of the Business Solutions, Governance, Restructuring & Bankruptcy Group, concentrates on corporate workouts, restructurings and bankruptcies. He represents various companies and handles cross-border restructurings and insolvency proceedings. Mark’s clients include: debtors and borrowers in Chapter 11 bankruptcy cases and in out-of-court workouts and restructurings; private equity sponsors and funds in acquisitions of distressed businesses, assets and securities; lenders, committees, and ad hoc investor and lender groups in restructurings, workouts and bankruptcies; and senior secured lenders and their agents in pre-petition, debtor-in-possession and exit financing facilities. Mark also represents buyers and sellers of distressed assets.


United States: Finance

Restructuring (including bankruptcy): corporate

Within: Restructuring (including bankruptcy): corporate

Jointly leading the practice at Proskauer Rose LLP are Chicago-based Jeff Marwil and Mark Thomas, and Martin Bienenstock in New York. The team represented the statutory unsecured claimholders’ committee in the Chapter 11 of Westinghouse Electric, which filed for bankruptcy with almost $10bn of estimated debt; the firm negotiated for a segregated fund of $1.15bn to pay allowed unsecured claims, and with the confirmation of the company’s Chapter 11 plan, unsecured creditors are expected to receive complete recovery on account of their allowed claims. In another energy related matter, the team is acting for the statutory committee of equity security holders in the Chapter 11 of Breitburn Energy Partners, an independent oil and gas partnership with more than $3bn of funded debt; associate Maja Zerjal acted in this matter. In the retail sector, the department is representing the TRU Taj Entities, affiliates of Toys “R” Us, in a Chapter 11 pending before the US Bankruptcy Court for the Eastern District of Virginia. The TRU Taj Entities obtained a DIP financing facility totaling approximately $500m.

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